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Elon Musk Says He Will Pay Over $11 Billion In Taxes This Year

by : Julia Banim on :
Elon Musk Says He Will Pay Over $11 Billion In Taxes This YearAlamy

Elon Musk has claimed he will pay over $11 billion worth of taxes this year, one week after declaring he will ‘pay more taxes than any American in history’ for 2021.

The 50-year-old SpaceX CEO announced this sum amid widespread speculation over how much tax he will be paying.

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This conversation was sparked by a Twitter row between Musk and US senator Elizabeth Warren, with the Massachusetts representative accusing the billionaire of ‘freeloading’ when it comes to paying his taxes.

Taking to Twitter after Musk was named Time magazine’s Person of the Year, Warren said:

Let’s change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else.

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Taking issue with this assessment, Musk hit back that Warren reminded him of ‘when I was a kid and my friend’s angry Mom would just randomly yell at everyone for no reason’, later writing, ‘if you opened your eyes for 2 seconds, you would realize I will pay more taxes than any American in history this year’.

Now Musk has specified what this exact amount will be, tweeting:

For those wondering, I will pay over $11 billion in taxes this year

Elon Musk (Alamy)Alamy
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A ProPublica investigation published back in June found that Musk had paid a total of just $455 million in taxes from 2014 to 2018, despite his wealth having soared by $13.9 billion. It’s also understood that he paid no federal income taxes in 2018.

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Julia Banim

Jules studied English Literature with Creative Writing at Lancaster University before earning her masters in International Relations at Leiden University in The Netherlands (Hoi!). She then trained as a journalist through News Associates in Manchester. Jules has previously worked as a mental health blogger, copywriter and freelancer for various publications.

Topics: Celebrity, Elon Musk, SpaceX, Tesla

Credits

@elonmusk/Twitter and 1 other
  1. @elonmusk/Twitter

    @elonmusk

  2. ProPublica

    The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax